AYMNews Flash™ – Week 28
AYMNews™ Flash
Week 28
AYMNews™ Flash - Week 28
Ripple Labs notches landmark win in SEC case over XRP cryptocurrency
Ripple Labs Inc did not violate federal securities law by selling its XRP token on public exchanges, a U.S. judge ruled on Thursday, a landmark legal victory for the cryptocurrency industry that sent the value of XRP soaring.
XRP was up 75% by late afternoon on Thursday, according to Refinitiv Eikon data.
The ruling by U.S. District Judge Analisa Torres was the first win for a cryptocurrency company in a case brought by the U.S. Securities and Exchange Commission – Reuters
Link to Full Article Here
Bitcoin Is Set to Quadruple to $120,000 by End of 2024, Standard Chartered Says
Standard Chartered is ramping up its bullish Bitcoin prediction, targeting as much as $120,000 by the end of 2024 — almost quadruple the current price — as increasingly cash-rich miners reduce sales of the token.
“Increased miner profitability per BTC mined means they can sell less while maintaining cash inflows, reducing net BTC supply and pushing BTC prices higher,” Geoff Kendrick at Standard Chartered wrote Monday. – Bloomberg
Link to Full Article Here
South Korea to require firms to report crypto holdings from next year
‘The South Korean government is continuing to develop tighter regulations targeting the cryptocurrency industry with the introduction of new asset disclosure rules.
On July 11, South Korea’s Financial Services Commission (FSC) announced a new bill that will require all firms that issue or hold cryptocurrencies like Bitcoin BTC to disclose their holdings.’ – (Coin Telegraph)
Link to Full Article Here
Bank of China trials offline payments for digital yuan via SIM cards
‘The Bank of China, one of the largest state-owned banks in China, is currently conducting trials for a novel offline payment system that connects to SIM cards. This payment method is designed specifically for the digital yuan — China’s central bank digital currency (CBDC).
The bank plans to enable users to make phone payments by integrating its digital yuan app with specialized “super SIM cards” with near-field communication capabilities. Users simply need to bring their mobile phones near the point of sale terminals for payment, eliminating the need to turn the phone on.’ – (Coin Telegraph)
Link to Full Article Here
U.S. securities regulators win case against crypto company LBRY
‘The U.S. Securities and Exchange Commission won its lawsuit against blockchain-based publishing company LBRY Inc on Monday when a U.S. judge ruled that the company offered its digital assets as securities.
The SEC sued LBRY last year, saying the New Hampshire-based company violated U.S. law by selling its LBRY Credits without registering them as securities.’ – (Reuters)
Link to Full Article Here
Bank of America fined $150 million for consumer abuses including fake accounts, bogus fees
‘Bank of America, the second-largest U.S. bank by assets, engaged in deceptive practices that hurt hundreds of thousands of its customers in recent years, the Consumer Financial Protection Bureau said Tuesday.
The bank charged multiple $35 overdraft fees for the same transaction, failed to properly issue rewards to credit card users and signed up customers for card accounts without their consent, the CFPB said in a statement.’ – (CNBC)
Link to Full Article Here
Bloomberg analyst: BlackRock Bitcoin ETF could unlock $30 trillion worth of wealth
‘$30 trillion worth of capital could suddenly unlock for the Bitcoin market if a Bitcoin spot ETF is approved by the U.S. Securities and Exchange Commission, according to Bloomberg ETF analyst Eric Balchunas.
That is the estimated amount of assets controlled by financial advisors in the U.S., who would be willing to get exposure to Bitcoin through a regulated exchange-traded fund.
“ETF is the format in which the boomers and the financial advisors prefer their investments delivered in”, Balchunas explained in an exclusive Cointelegraph interview.’ – (Coin Telegraph)
Link to Full Article Here
Google Play Changes Policy on Tokenized Digital Assets, Allowing NFTs in Apps and Games
‘Google Play announced a major shift in policy today, allowing developers to incorporate digital assets such as non-fungible tokens (NFTs) into their apps and games in the store. Companies that decide to offer the ability to buy, sell or earn tokenized assets will be required to make it clear in the Play Console that there are blockchain-based elements in the app.’ – (Coin Desk)
Link to Full Article Here
